The UK's first digital-only bank is tapping investors for £75m in fresh funding as it inches towards a green light from regulators that will enable it to open for business within months. Sky News understands that Atom Bank, which is being set up by the former chairman of Metro Bank, has drafted in bankers from Canaccord Genuity to raise the new capital from existing and new investors. The fundraising will take to approximately £100m the total sum raised by Atom Bank, which is targeting a launch later this year. Its founders, Anthony Thomson and Mark Mullen, who previously ran First Direct, the highly-regarded lender owned by HSBC, believe there is a significant opportunity for a service-led bank with few of the overheads associated with high street branch networks.

http://news.sky.com/story/1460984/digital-lender-atom-taps-investors-for-75m